Analysts Set The Honest Company, Inc. (NASDAQ:HNST) Price Target at $3.47

by · The Markets Daily

The Honest Company, Inc. (NASDAQ:HNST – Get Free Report) has been assigned a consensus rating of “Hold” from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $3.4667.

A number of research analysts have issued reports on the stock. Alliance Global Partners restated a “buy” rating on shares of Honest in a research report on Thursday, May 7th. Morgan Stanley set a $3.40 price target on shares of Honest in a research report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Honest in a research note on Tuesday, May 26th. Zacks Research raised Honest from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, Wall Street Zen upgraded Honest from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th.

Read Our Latest Analysis on HNST

Insiders Place Their Bets

In related news, CEO Carla Vernon sold 119,389 shares of Honest stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $3.14, for a total transaction of $374,881.46. Following the sale, the chief executive officer directly owned 3,946,451 shares of the company’s stock, valued at approximately $12,391,856.14. The trade was a 2.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Brendan Sheehey sold 9,784 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $3.14, for a total value of $30,721.76. Following the completion of the sale, the general counsel owned 715,888 shares of the company’s stock, valued at $2,247,888.32. The trade was a 1.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 175,058 shares of company stock worth $550,591. 9.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Honest

A number of institutional investors and hedge funds have recently modified their holdings of HNST. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Honest by 6.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,916 shares of the company’s stock worth $235,000 after acquiring an additional 3,210 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Honest by 16.4% during the first quarter. Millennium Management LLC now owns 1,936,846 shares of the company’s stock valued at $9,103,000 after acquiring an additional 272,765 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Honest by 18.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,064,179 shares of the company’s stock valued at $5,002,000 after acquiring an additional 163,380 shares in the last quarter. Creative Planning raised its position in shares of Honest by 183.2% during the second quarter. Creative Planning now owns 64,942 shares of the company’s stock worth $331,000 after purchasing an additional 42,008 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Honest by 18.1% during the second quarter. Rhumbline Advisers now owns 134,690 shares of the company’s stock worth $686,000 after purchasing an additional 20,603 shares during the period. 45.54% of the stock is currently owned by institutional investors.

Honest Trading Down 2.7%

Shares of HNST opened at $3.90 on Tuesday. The company has a market cap of $429.31 million, a price-to-earnings ratio of -22.94 and a beta of 2.11. Honest has a 1-year low of $2.07 and a 1-year high of $5.28. The company’s fifty day simple moving average is $3.55 and its 200 day simple moving average is $3.01.

Honest (NASDAQ:HNST – Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. Honest had a positive return on equity of 3.52% and a negative net margin of 5.39%.The business had revenue of $78.10 million during the quarter, compared to analysts’ expectations of $76.25 million. As a group, research analysts forecast that Honest will post 0.1 earnings per share for the current year.

Honest Company Profile

(Get Free Report)

The Honest Company, Inc (NASDAQ: HNST) is an American consumer goods firm specializing in eco-friendly and responsibly formulated products for babies, personal care, beauty and home cleaning. The company emphasizes transparency in ingredient sourcing and product safety, positioning itself in the premium segment of mass-market retail and direct-to-consumer channels.

Honest was founded in 2011 by actress Jessica Alba and environmental health advocate Christopher Gavigan with a mission to offer parents household and baby care items free from harsh chemicals and synthetic fragrances.

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